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Trump’s Tax Plan May Hurt the Poor Why in the News? The U.S. Congress is debating President Trump’s new tax and spending bill, which includes tax breaks on tips. However, analysts warn that low-income Americans may face a net income loss due to social program cuts. The Trump tax plan, proposed by the GOP (Republican …
Read MoreWhy in the news? The Ministry of Statistics and Programme Implementation released the 2023-24 Household Consumption Expenditure Survey, highlighting reduced urban-rural consumption gaps, declining Gini coefficients, and improved economic well-being across India, reflecting increased economic inclusivity and balanced development. Urban-Rural Consumption Gap: The urban-rural consumption disparity has declined across major states, indicating balanced economic growth. …
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